In today’s financial news, Cathie Wood’s ARK ETFs have once again made significant moves in the biotech and tech sectors. The daily trade report for Friday, December 20, 2024, reveals a continued pattern of investment in genomic health companies and a notable sell-off in a leading electric vehicle company.
The largest transaction of the day involved the purchase of 218,758 shares of Intellia Therapeutics Inc (NASDAQ:), divided between the ARKK and ARKG ETFs, with a total dollar value of $2,642,596. This move underscores ARK’s ongoing focus on companies with disruptive potential in the healthcare space, as Intellia is known for its leading work in CRISPR gene editing technology.
Following closely in terms of dollar value, ARK also bolstered its position in 10X Genomics Inc (NASDAQ:) by acquiring 161,769 shares across both ARKK and ARKG ETFs, totaling $2,201,676. The company, specializing in gene sequencing technology, has been another regular feature in ARK’s investment strategy.
On the sell side, ARK parted ways with 5,168 shares of Tesla Inc (NASDAQ:) from its ARKK ETF, amounting to $2,254,126. This sale is part of a recent trend, as ARK has reduced its holdings in Tesla over the past week, despite the electric vehicle maker’s central role in ARK’s portfolio in previous years.
Additionally, ARK sold 42,928 shares of Veracyte Inc (NASDAQ:), a genomic diagnostics company, through its ARKG ETF for a sum of $1,677,196. This trade might indicate a strategic shift or rebalancing within the genomics space of ARK’s portfolio.
In other activity, ARK invested in Pacific Biosciences (NASDAQ:) of California Inc (NASDAQ:PACB), purchasing a total of 513,224 shares across ARKK and ARKG ETFs with a dollar value of $990,522. PACB, known for its long-read sequencing technologies, has been another consistent addition to ARK’s investments, suggesting a bullish stance on the company’s growth prospects.
The remaining trades of the day included minor sell-offs, such as 49 shares of Senti Biosciences Inc (NASDAQ:SNTI) through ARKG ETF for a modest $195. Despite the small scale, these transactions are part of ARK’s daily adjustments to optimize its fund performance.
Reviewing ARK’s trading patterns over the past week, there is a clear emphasis on genomic health companies, with repeated investments in Intellia Therapeutics, Pacific Biosciences, and 10X Genomics. Conversely, the gradual reduction in Tesla holdings may signal a strategic reallocation of resources within ARK’s high-conviction investment philosophy.
Investors and market watchers will continue to monitor Cathie Wood’s ARK ETFs for insights into the disruptive innovation sectors and how these daily trades might shape the future of technology and healthcare investments.
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